Conventional Home Loans
Looking for a conventional home loan with competitive rates and flexible terms? Conventional mortgages are one of the most popular options for homebuyers and homeowners looking to purchase or refinance a property. Whether you’re buying your first home, upgrading, or refinancing, a conventional loan can offer strong long-term value.
A conventional loan is a mortgage that is not backed by a government agency, giving lenders more flexibility in terms and structure. These loans are ideal for buyers with solid credit, stable income, and the ability to meet standard qualification requirements.
What Is a Conventional Loan?
a conventional loan can be used for:
Primary Residences
Second Homes
Investment Properties
Refinancing Existing Mortgages
Benefits of a Conventional Mortgage
COMPETITIVE INTEREST RATES
FLEXIBLE DOWN PAYMENT OPTIONS
OPTIONS TO REMOVE PMI
How to Qualify for a Conventional Loan
f you’re wondering “what credit score do I need for a conventional loan?” or “how much can I qualify for?”
Here’s a general breakdown:
Credit score: Typically 620 or higher
Down payment: Usually 3%–20%
Debt-to-income ratio: Varies based on income and loan type
Stable income & employment history
Our team will walk you through your specific situation and help you understand what you qualify for.
FAQs
What credit score is needed for a conventional loan?
1
Most lenders require a minimum credit score of 620, but higher scores typically qualify for better rates.
Do conventional loans require mortgage insurance?
2
Private mortgage insurance (PMI) may be required if your down payment is less than 20%, but it can be removed once you build enough equity.
How much down payment is required?
3
As little as 3% based on qualification and loan program.
Is a conventional loan better than FHA?
4
It depends on your financial situation. Conventional loans often have lower long-term costs for buyers with strong credit.